IDBI Bank gets nod for preferential issue of capital to Govt of India, LIC

IDBI Bank has received approval for preferential issue of capital to Government of India and Life Insurance Corporation of India aggregating upto Rs 4,557 crore and Rs 4743 crore respectively, subject to statutory/regulatory approvals, if any, required to be obtained in this regard. The Board of Directors of the company at their meeting held on September 19, 2019, approved the same.

IDBI Bank is the youngest, new generation public sector universal bank that rides on a cutting edge Core Banking platform with strong service orientation.

Source: Daily Kiran